Owning your own home is probably one of the most important financial decisions you will make in your life. Not only is it an investment, it is security for your family in the future. Sharjah Islamic Bank offers Home Finance based on the Islamic financing concept of Ijarah, which is a form of leasing.
Based on your request and promise to lease from Sharjah Islamic Bank, we purchase and possess the specified property, and then lease it to you on the terms of a financial lease. The lease rental comprises equal monthly installments and is structured that at the end of the tenor, our purchase cost and profit is recovered. We then transfer ownership of the property to you for a nominal price or as a gift by a separate contract at the end of the lease period.
Features & Benefits:
- Speedy process and approval
- Long tenors
- Fixed rent that gives you stability against rates fluctuations
- Convenient monthly installments
- Low down payments
- Financing available for ready and under construction property properties
Eligibility:
- UAE Nationals and residents working for Government departments
- Minimum monthly salary of AED 30,000
- facility
- Minimum length of service 1 year
- Low down payment
Required documents – Salaried Customers:
- Valid Passport copy with original ID
- Six months bank account statement
- Salary transfer letter
- Valid UAE Residence Visa for Expatriates
- Liability certificate from the bank receiving customer’s salary (Non SIB account holders only)
- Valuation certificate
- Property documents (site plan, map & title of deed, etc.)
Terms & conditions apply